ManZ asked: If so how?
Do you need to pay taxes annualy based on gains and losses according to your account balance, or do you only pay taxes on gains when you withdraw the money from the account?
GAYMON
United States
Account Balance, Money, Trading Foreign Currencies
bov_troy asked:
Lets say the Japanese Yen is trading at 100 for one US dollar and I buy $10,000 worth from my bank; so a million yen. I put the yen in a safe deposit box at the bank and leave it alone. Then, lets say 10 years later the yen is trading at 1 for 1 (I don’t know how likely that is, it’s just for the sake of argument). That means I made $990,000 right? Would I be charged taxes on that and if so which tax would apply?
RODRIGEZ
United States
10 Years, Safe Deposit Box, Sake
